ST. ROSE, LA. — Delta Petroleum Co. has signed a 220,000-square-foot lease for an industrial property, located at 10352 River Rd. in St. Rose. Tom McGarity of Cassidy Turley's Columbus, Ohio, office, along with Max J Derbes Co., represented the tenant in the lease transaction. Yeti Holdings is the landlord.
Most Tampa Bay-area businesses look forward to 2012 with more cause for optimism than they had heading into 2011. In prior quarters, the positive direction of the market was largely anecdotal. Over the last few months, though, tangible signs of broad-based improvement have emerged, suggesting that the obstacles to a stronger recovery may be weakening. Hiring activity has spread from a narrow set of countercyclical sectors such as healthcare and education to a broader group of industries such as hospitality and tourism, as well as professional/business services. Housing sales have started to pick up and hotel occupancy rates have increased as business travel and tourism rebound. The rate of growth still falls well short of its heady pace during the 1990s and the post-dot.com years between 2003 and 2007, yet 2011 brought clear signs of forward movement. The resurgence of cost-driven relocations of major businesses to Tampa Bay, combined with significant expansions by locally based firms, has been particularly encouraging. The headlines have been dominated not only by news of firms that are deciding to move to Tampa Bay from other cities, but also of existing companies that weathered the storm of the Great Recession and are moving forward with …
CANTON, GA. — Cherokee County School District has selected Choate Construction Co. to build the $31.6 million, 240,000-square-foot Teasley Middle School replacement, located on Reservoir Drive in Canton. The school, which is currently being referred to as “Middle School E”, will include 95 classrooms. Construction is slated to begin on or before March 1 of this year with completion scheduled for March 2014. Manley Spanger Smith Architects is the architect for the project.
GREENVILLE, S.C. — The 50,000-square-foot Lewis Plaza Shopping Center, located at 1700 Augusta St. in Greenville, has been sold for $4.25 million. The property is 90 percent leased to tenants including McAllister's Deli, Wells Fargo and UPS. Frank Halter, Pete Brett and David Sigmon of Greenville-based Coldwell Banker Commercial Caine represented the seller in the transaction. Paul Holder of Greenville-based AVTEX Commercial Properties represented the buyer, Lewis Plaza Partners, a partnership formed by AVTEX Commercial Properties.
TAMPA, FLA. — Girl Scouts of West Center Florida has purchased 24,000 square feet of office space, located at 4610 Eisenhower Blvd. in Tampa, from Spencer Farms Inc. for $2 million. Two floors were included in the transaction. A custom build-out will take place on the first floor for a resource center with volunteer materials and a retail store. Carol Warren and Jim Parker of Colliers International's Tampa Bay office represented the buyer in the transaction. Mercedes Angell of Cushman & Wakefield's Tampa office represented the seller.
BARBOURSVILLE, W. VA. — Cleveland-based The Cooper Group has arranged the $1.6 million sale of the leasehold interest in the 43,150-square-foot Barboursville Center, located at 5-13 Mall Rd. in Barboursville. The center is fully leased and is shadow-anchored by Walmart, Hobby Lobby, La-Z-Boy Furniture and Discount Drug Emporium. Dan Cooper of The Cooper Group represented DDR Continental, the seller, in the transaction and procured the buyer, a Youngstown, Ohio-based private group.
MCDONOUGH, GA. — Haas Group International has signed a 113,104-square-foot lease at the Westridge Logistics Center, located at 418-450 Westridge Pkwy. in McDonough. Denton Shamburger of Lincoln Property Co. Southeast's Atlanta office represented Morgan Stanley, the landlord, in the transaction. John Lancaster of NAI Robert Lynn's Dallas office represented the tenant.
FAYETTEVILLE, ARK. — Sterling University Housing has partnered with Arkansas-based Specialized Real Estate Group to build two student housing properties, located within walking distance of the University of Arkansas in Fayetteville. Combined, the properties will include 1,232 beds. Amenities will include flat-screen televisions in every bedroom, a resort-style pool, fully furnished residences, a sky bridge with study lounges and a multifunctional study lounge with a game room, cafe and 24-hour fitness center. The first phase, located at 555 Maple St., is slated to begin construction in the spring of 2012 with anticipated completion for the 2013-2014 school year. The second phase will be open in time for the 2014-2015 school year. The properties are designed to achieve LEED Silver certification.
RALEIGH, N.C. — ARA has negotiated the sale of the 600-bed University Village at Raleigh, located at 3333 Melrose Club Blvd. in Raleigh, minutes from North Carolina State University. Amenities include a resort-style pool, a fitness center with a tanning bed, a basketball court, a volleyball court, a car washing facility, a game room with billiards and a state-of-the-art business center. Chris Bancroft and Chris Epp of ARA's Austin, Texas, office, along with Dean Smith, Sean Wood and Blake Oakland of ARA's Charlotte, N.C., office represented The Preiss Co., the seller, in the transaction. The buyer was Cardinal Group Investments, which has renamed the property The U Raleigh.
CHARLOTTE, N.C. — A 12,900-square-foot CVS/pharmacy, located at 8220 Mt. Holly-Huntersville Rd. in Charlotte, has been sold for $5.5 million. Matt Mousavi and Rich Berlinghof of Faris Lee Investments' New York City office represented North Carolina-based KM Pharmacy Investors, the seller, in the transaction. Colliers International represented California-based Kerley-Capital Expressway, the all-case buyer.